January 29, 2023

This is being painted as one thing, but I suspect that what is really happening is that alternative forms of currency threaten the inherent weakness of the official US currency. Remember a few months ago when the Fed made it illegal to melt coins because the metal was worth more than the coins face value? are you paying attention to the cost of things and the downturn on the real estate economy? How much money do you think the US can spend before the dollar plummets? How much of your own money can you spend before it becomes valueless? Expect increasingly harsh treatment of alternative value systems as the US becomes desperate…

A federal grand jury in Washington, D.C. has indicted two companies operating a digital currency business and their owners on charges of money laundering, conspiracy, and operating an unlicensed money transmitting business, Assistant Attorney General Alice S. Fisher of the Criminal Division and U.S. Attorney for the District of Columbia Jeffrey A. Taylor announced today.
The basis of the DOJ charges are:
The indictment alleges that E Gold has been a highly favored method of payment by operators of investment scams, credit card and identity fraud, and sellers of online child pornography. The indictment alleges that the defendants conducted funds transfers on behalf of their customers, knowing that the funds involved were the proceeds of unlawful activity; namely child exploitation, credit card fraud, and wire (investment) fraud; and thereby violated federal money laundering statutes. The indictment further alleges that the defendants operated the E Gold operation without a license in the District of Columbia or any other state, or registering with the federal government, and thereby violated federal and state money transmitting laws. The indictment alleges that this conduct occurred at various times from 1999 through December 2005.

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